One of the things I enjoy most about being an entrepreneur is passing on the things I’ve learned in the last 9 years or so.
From time to time my business partner and I get the opportunity to speak to youth from neighborhoods like I’ve grown up in who are experiencing the challenges that come with that. I covered some of that more specifically in Lies the Hood Taught. I find that these are great times to give them the game. That means, sharing secrets about life, business, networking, or other things that I wish I’d have learned in at their age. During one of our more informal chats with a group of high schoolers, I said something off-handedly that caused me to pause and repeat it.
“Your very existence has value.”
I repeated it partially because I wanted it to sink in for them and partially because it also settled on me in a way that felt profound. I felt the need to explore it and we talked quite a bit about value. But I don’t mean this in simply a touchy-feely way. Yes, it’s true, on a personal level, you have value. You deserve to be here on this earth and harvesting the bountiful harvest that is life, no matter where you come from and what your circumstances are. Beyond that, from a business standpoint, each individual has monetary and strategic value. Sometimes, it’s just up to you to find out what that is.
The first step? Become an expert in you. What do you love? What drives you? What brings you closer to the people you care about and what do they love? Why do you get up in the morning?
Simply put, “what makes you special?”
The most world-changing ideas happen at the nexus of disciplines. There are the many things that you learn in school and through intentional effort, but nothing is as deep as your culture. You learn culture through immersion and experience. You carry it with you and move through the world as an extension of the people that came before you. That’s why it’s not only exciting but more productive when an innovative strategy is paired with diverse thinkers and genuine understanding. And what do businesses want? They want that understanding.
“Why do people who are like you, make the decisions that you make.”
Understanding the tangible value of the market you represent can help you position yourself to be the key to unlocking that audience. Market studies can range between $15,000 – $100,000. This is literally businesses paying thousands of dollars to find out what you already know. Whether you are a 17-year-old black male or a 65-year-old Asian woman, businesses and organizations want that insight.
Lastly, and most importantly if you ask me, authentic insight is needed. Many of these organizations are making decisions about what you want while tucked safely away in their silos. From time to time you see a major misfire that doesn’t connect with the intended audience. This is usually a case of “they don’t know what they don’t know.” Being confident and being correct are very different things. Sometimes all the research points to a solution, but nothing really compares to an authentic lived experience.
My greatest successes have always been when I was firmly planted in my areas of expertise. They happened when I was able to use my core competencies — storytelling, branding, and marketing — and paired them with my understanding of my city or community. The advantage of coming from a minority group or niche demographic is that you learn to walk in two (or more) worlds. You have to understand the mainstream culture to survive. Movies, TV, news and all other forms of media cater to the majority or more powerful demographic. Meanwhile, you’re living in a duel reality learning the customs, languages, and code of ethics that maybe the mainstream audience has never had to confront. Living in these two worlds can go from being a burden to a real advantage when positioned correctly. When you master your identity, you will always have the framework of understanding that many others can’t simply copy. With that knowledge, you can create your own innovations and present your real value.
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